NORSEA PIPELINE LIMITED
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Cash
£38m
-28.7% lowest in 3 filed years
Net assets
£59m
-5.6% vs 2024
Employees
—
Average over period
Profit before tax
£44m
-12.2% lowest in 3 filed years
Net assets
3-year trend · vs Energy median
NORSEA PIPELINE LIMITED·Energy median
NORSEA PIPELINE LIMITED·Energy median
NORSEA PIPELINE LIMITED·Energy median
NORSEA PIPELINE LIMITED·Energy median
NORSEA PIPELINE LIMITED·Energy median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £146,931,000 | £155,084,000 | £163,263,000 | +5.3% | |
| Operating profit | £51,357,000 | £48,573,000 | £42,067,000 | -13.4% | |
| Profit before tax | £58,708,000 | £50,483,000 | £44,341,000 | -12.2% | |
| Net profit | £48,180,000 | £45,645,000 | £28,945,000 | -36.6% | |
| Cash | £41,173,000 | £53,893,000 | £38,424,000 | -28.7% | |
| Total assets less current liabilities | £103,076,000 | £121,517,000 | £121,938,000 | +0.3% | |
| Net assets | £47,814,000 | £62,623,000 | £59,132,000 | -5.6% | |
| Equity | £47,814,000 | £62,623,000 | £59,132,000 | -5.6% | |
| Average employees | 0 | 0 | — | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | £0 | £0 | — | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 35.0% | 31.3% | 25.8% | |
| Net margin | 32.8% | 29.4% | 17.7% | |
| Return on capital employed | 49.8% | 40.0% | 34.5% | |
| Gearing (liabilities / total assets) | 81.8% | 79.6% | 79.2% | |
| Current ratio | 0.38x | 0.49x | 0.39x | |
| Interest cover | 3.41x | 2.78x | 2.62x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future and meet its liabilities as they fall due.”
Group structure
- NORSEA PIPELINE LIMITED · parent
- Norpipe Petroleum UK Limited 100%
Significant events
- “The directors approved payment of four dividends during the year totalling 426 pence per ordinary share, in the amount of GBP 32,436,000.”
- “The directors do not recommend any further dividends for the year 2025.”
- “There was a reduction in reserves during the year of GBP 3,491,000 leaving total reserves carried forward of GBP 51,518,000.”
- “The dismantlement provision has been updated in 2025 to reflect the current economic environment, including cost assumptions, discount rate and inflation.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 107 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| PEPIN, Jean-Francois | Secretary | 2022-10-28 | — | — |
| CATALANO, Roccantonio | Director | 2025-01-09 | Apr 1971 | Italian |
| FREDHEIM, Kurt | Director | 2024-05-08 | Mar 1964 | Norwegian |
| JORGENSEN, Arild Kvanvik | Director | 2020-09-11 | May 1969 | Norwegian |
| LELARGE, Vincent | Director | 2024-07-01 | Jun 1976 | French |
| PORRETTA SERAPIGLIA, Claudia | Director | 2025-06-18 | Nov 1977 | Italian |
| STROM, Joachim Kleiberg | Director | 2018-11-30 | Sep 1982 | Norwegian |
Show 107 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BAUGSTO, Anita | Secretary | 2008-04-03 | 2011-04-04 |
| DAHL, Nan Fosse | Secretary | 2011-04-04 | 2014-09-10 |
| FISHER, Clare Catherine | Secretary | 2019-09-30 | 2022-10-28 |
| GRIMSHAW, David | Secretary | 2003-08-18 | 2019-09-30 |
| REDRUP, Leslie Charles Ernest | Secretary | — | 1999-03-31 |
| STOKELD, Michael Philip, Sol | Secretary | 2002-12-11 | 2003-08-18 |
| TVEIT, Rune | Secretary | 2004-03-18 | 2008-04-03 |
| WATSON, Susan Elizabeth | Secretary | 1999-04-01 | 2002-12-11 |
| WILSON, Suzanne Elizabeth | Secretary | 2002-12-11 | 2004-03-18 |
| ALBRIGTSEN, Roar | Director | 2017-06-23 | 2018-11-30 |
| AM, Knut | Director | 1991-12-14 | 1996-01-31 |
| ARDAL, Ove Andre | Director | 2015-03-26 | 2020-07-15 |
| ARNOLD III, William Thomas | Director | 2015-08-17 | 2018-11-01 |
| ASBO, Jens Andreas | Director | 2000-12-15 | 2005-12-14 |
| ASKVIK, Nicolai Bernhard | Director | — | 2000-12-01 |
| AUKLEND, Asbjorn | Director | — | 2000-12-01 |
| BOGNO, Thomas | Director | 2020-04-02 | 2020-09-11 |
| BORE, Sverre Garman | Director | 2001-12-12 | 2004-12-14 |
| BREVIK, Arne Gunnar | Director | 2000-12-15 | 2007-12-12 |
| BRISEID, Eivind | Director | 1992-06-24 | 1992-10-07 |
| BRUGGEMAN, Jean-Luc | Director | 1997-09-01 | 2000-06-21 |
| BUE DYPVIK, Bente | Director | 2006-12-13 | 2007-12-12 |
| CATLOW, John Richard | Director | 2007-10-15 | 2014-09-15 |
| CHARBONNEL, Pierre | Director | 2014-09-15 | 2017-06-23 |
| CLOVIN, Philippe | Director | 2004-12-15 | 2007-10-15 |
| COLO, Jean-Francois | Director | 1991-12-12 | 1993-06-23 |
| DAHL-STAMNES, *Ivind Andreas | Director | 2005-12-14 | 2011-02-14 |
| DELUCHI, Lucio | Director | 1991-12-12 | 1994-12-14 |
| DUTAL, Vincent Paul | Director | 2002-12-11 | 2004-12-15 |
| ERIKSEN, Gisle | Director | 2013-04-05 | 2015-10-31 |
| ERRICO, Giuseppe | Director | — | 1991-12-12 |
| FRANTZ, Lavele Lawrence | Director | 1992-04-02 | 1996-01-31 |
| GIANNONE, Gino | Director | 2000-12-13 | 2001-12-12 |
| GILSA, Gunnar | Director | 1995-09-29 | 1998-12-16 |
| GIUSTO, Manfredi | Director | 2024-10-11 | 2025-06-18 |
| GLAESERUD, Arild | Director | 2015-03-26 | 2017-05-23 |
| GLOPPEN, Egil Magne | Director | — | 1992-10-09 |
| GUNDERSEN, Georg Karl | Director | 1999-06-15 | 2000-12-15 |
| HAUGEN, Tormod Reinton | Director | — | 1995-09-28 |
| HAUGEN, Wenche | Director | 2006-12-13 | 2007-12-12 |
| HAUSKEN, Kristian Bendik | Director | — | 1992-06-24 |
| HEMMENS, Philip Duncan | Director | 2022-05-02 | 2022-12-16 |
| HENDICOTT, David | Director | 2021-05-07 | 2024-05-08 |
| HIORTH, Peter Anton | Director | 1997-07-01 | 1999-09-14 |
| HOLHJEM, Arne | Director | 2000-09-22 | 2003-12-10 |
| JENSSEN, Erik-Sverre | Director | 1999-12-31 | 2001-12-12 |
| JOHANSEN, Jan-Arne | Director | 2018-11-01 | 2024-07-01 |
| JOHANSEN, Trond Erik | Director | 2003-12-10 | 2007-03-01 |
| JOSHI, Pankaj | Director | 2015-05-01 | 2018-07-20 |
| JOSHI, Pankaj | Director | 2014-09-15 | 2018-07-20 |
| KJOS-HANSSEN, Erik | Director | — | 1992-06-24 |
| KOUBEMBA, Lambert | Director | 2012-01-23 | 2015-03-26 |
| KRAKENES, Vidar | Director | 2012-01-23 | 2015-03-26 |
| LANDRUM, John Allen | Director | 1991-12-14 | 1992-04-01 |
| LANGGARD, Finn | Director | 1999-12-31 | 2004-12-15 |
| LANGOEN, Jan Terje | Director | 2004-04-01 | 2010-11-15 |
| LINDHOLT, Geir Egil | Director | 1992-10-09 | 1993-04-22 |
| LUHR, Aksel | Director | 1995-12-01 | 2012-01-23 |
| LUNDE, Tore | Director | 1993-06-24 | 1995-12-31 |
| LYCKE, Anne Strommen | Director | 1998-12-17 | 1999-12-31 |
| MACCAGNI, Agostino | Director | 2005-12-14 | 2009-03-18 |
| MAGELSSEN, Hans Christian | Director | 2007-12-12 | 2014-04-01 |
| MALGARI, Paolo | Director | 2020-07-15 | 2022-05-02 |
| MCCONNELL, Merwin Hoyt | Director | — | 1991-12-13 |
| MICHELET, Christian Fredrick | Director | — | 1993-05-09 |
| MIRABELLI, Giuseppe | Director | 1994-12-15 | 2000-12-13 |
| MULS, Jean-Michel Henry Fernand | Director | 1995-09-01 | 1997-07-01 |
| NAESGAARD, Bjorn Arne | Director | 1996-01-01 | 1996-12-02 |
| NAESGAARD, Bjorn Arne | Director | 1991-12-12 | 1995-12-31 |
| NOTTE, Guy | Director | 1995-09-01 | 1997-09-01 |
| NOTTE, Guy | Director | 1992-10-08 | 1995-08-01 |
| OLLESTAD, Helge | Director | 1992-10-08 | 2000-12-15 |
| OPIZZI, Martina | Director | 2020-07-15 | 2022-05-02 |
| OPPEBOEN, Kjell Arne | Director | 1995-09-29 | 1997-03-13 |
| ORBAN, Pierre Paul Joseph | Director | — | 1995-08-01 |
| OVERLAND, Hoye | Director | 2001-12-12 | 2006-12-13 |
| PARKER, Billy Zane | Director | 1996-02-01 | 1997-10-01 |
| PEDERSEN, Frank Dinhoff | Director | 1997-03-14 | 1999-12-31 |
| PEDERSEN, Tor-Ivar Wennerlund | Director | — | 1992-09-17 |
| PULITI, Alessandro | Director | 2010-12-15 | 2012-01-23 |
| ROGNLIEN, Terje | Director | 1996-12-03 | 2000-06-21 |
| SANDSTAD, Brage | Director | 2005-01-01 | 2013-04-05 |
| SANNER, Dag Oeyvind | Director | 2015-10-31 | 2021-05-07 |
| SEGER, Mark John | Director | 2018-11-30 | 2020-04-02 |
| SHEETS, Jeffrey Wayne | Director | 1996-12-03 | 1997-12-10 |
| SORAS, Helge | Director | — | 1994-09-28 |
| SORENSEN, Kjell Thorvald | Director | 2004-12-15 | 2006-12-13 |
| STANGELAND, Ole Morten | Director | 2014-04-01 | 2014-09-15 |
| STAPES, Jon Magnes | Director | 2015-05-01 | 2018-07-20 |
| STAPNES, Jon Magne | Director | 2015-05-01 | 2018-07-20 |
| STEFANI, Leonardo | Director | 2009-03-18 | 2010-12-15 |
| SUND, Bjorn Arne | Director | 1993-04-23 | 1995-09-28 |
| TAKLA, Lars Arne | Director | 1997-10-01 | 2005-01-01 |
| TANGVALD, Tor Bustrak | Director | 2017-05-23 | 2020-07-15 |
| TARUP, Johan | Director | 1992-06-24 | 1996-04-18 |
| TENDENES, Kjell Oyvind | Director | 1996-04-18 | 1999-06-14 |
| TJONNELAND, Kare Asbjorn | Director | 2000-09-25 | 2004-04-01 |
| TOMPKINS, Mark Warren | Director | 2013-07-01 | 2015-07-31 |
| TOUTAIN, Patrick Andre Gerard | Director | 2000-09-25 | 2002-12-11 |
| TURTELTAUB, Eva | Director | 2022-05-02 | 2024-10-10 |
| TVEIT, Nils Arve | Director | 1994-09-29 | 1995-11-30 |
| UTHAUG, Dagfinn | Director | 2011-02-14 | 2015-05-01 |
| VAAGE, Steinar | Director | 2007-03-14 | 2013-07-01 |
| VASQUES, Luciano Maria | Director | 2022-12-16 | 2024-10-10 |
| WAAGE, Rolf Ingvar | Director | 2010-11-15 | 2018-11-30 |
| WALLETTE JR, Donald Evert | Director | 1997-12-10 | 2000-09-22 |
| WIBORG, Rolf | Director | 1996-02-01 | 1996-12-02 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Norpipe Terminal Holdco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2018-09-12 | Active |
| Conocophillips Petroluem Company U.K. Limited | Corporate entity | Shares 25–50% | 2016-06-30 | Ceased 2018-09-12 |
Filing timeline
Last 20 of 413 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-12 | AA | accounts | Accounts with accounts type full | |
| 2026-05-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-07-14 | AA | accounts | Accounts with accounts type full | |
| 2025-06-23 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-23 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-01-22 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-10 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-10 | TM01 | officers | Termination director company with name termination date | |
| 2024-12-10 | TM01 | officers | Termination director company with name termination date | |
| 2024-09-26 | AA | accounts | Accounts with accounts type full | |
| 2024-07-15 | CH01 | officers | Change person director company with change date | |
| 2024-07-12 | AP01 | officers | Appoint person director company with name date | |
| 2024-07-11 | TM01 | officers | Termination director company with name termination date | |
| 2024-05-13 | AP01 | officers | Appoint person director company with name date | |
| 2024-05-13 | TM01 | officers | Termination director company with name termination date | |
| 2024-05-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-08-15 | AA | accounts | Accounts with accounts type full | |
| 2023-05-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-12-19 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.